12:50
Analyst: The movement of the dollar is the catalyst for gold to break through the current range.
Jin10 data reported on August 20th, gold futures rose, reversing the decline from the previous trading day. David Morrison from Trade Nation noted in the report that gold has maintained a range fluctuation for about the past 10 weeks. Traders may be closely following the dollar's movements, as significant changes in the dollar could serve as a catalyst for gold to break through the current range. A weaker dollar makes gold, priced in dollars, cheaper for international buyers, while also weakening the competition between the dollar and gold in terms of safe-haven attributes, thereby increasing the demand for gold. Morrison stated that factors that could trigger dollar fluctuations include the Fed meeting minutes to be released on Wednesday, and more likely Powell's speech on Friday at Jackson Hole.